Banking Exams Quant — Question 696
Question
If the simple interest on ₹5000 for 3 years is ₹1200, find the rate of interest.
- 6%
- 7%
- 8%
- 9%
Correct answer
C — 8%
Explanation (English)
SI = PRT/100. 1200 = 5000×R×3/100. R = 8%
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